New Rensselaer would bring 'loads of jobs'

Mayor says $600M factory plan for river site is in "final stages"

Updated 7:01 am, Thursday, March 7, 2013

View of the Port of Rensselaer from the Corning Tower on Wednesday, March 6, 2013, in Albany, N.Y. (Cindy Schultz / Times Union)

View of the Port of Rensselaer from the Corning Tower on Wednesday, March 6, 2013, in Albany, N.Y. (Cindy Schultz / Times Union)

Photo: Cindy Schultz

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The entry way to the Port of Rensselaer, N.Y. March 6, 2013. (Skip Dickstein/Times Union)

The entry way to the Port of Rensselaer, N.Y. March 6, 2013. (Skip Dickstein/Times Union)

Photo: SKIP DICKSTEIN

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View of the Port of Rensselaer from the Corning Tower on Wednesday, March 6, 2013, in Albany, N.Y. (Cindy Schultz / Times Union)

View of the Port of Rensselaer from the Corning Tower on Wednesday, March 6, 2013, in Albany, N.Y. (Cindy Schultz / Times Union)

Photo: Cindy Schultz

New Rensselaer would bring 'loads of jobs'

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RENSSELAER — Mayor Dan Dwyer said Wednesday a $600 million manufacturing facility is within weeks of being launched here.

"Right now, it's in the final stages," Dwyer said.

The facility would be a green energy manufacturing and recycling operation that would have a worldwide market, according to local political and business sources familiar with the project.

"This is going to be a very environmentally friendly company," the mayor said.

Dwyer said the city has been working to secure a $500 million to $600 million industrial project for a 40-acre site on the northern part of the former BASF chemical plant property. Empire Generating Co.'s $800 million, 635 megawatt gas-fired power plant is on the south side of the property.

The project would be sited on Riverside Avenue near the Hudson River in the city's south end. The area is a brownfield site, which Dwyer said would be reclaimed. At one time, a $680 million newsprint-recycling plant was proposed for the property, but that plan did not move forward.

Dwyer declined to identify the company in the new project, which has a high-tech component that would fit with the Capital Region's developing technology industry.

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Dwyer said he held discussions with the company's principals on Wednesday and that a formal announcement detailing the project could come within the next several weeks.

Dwyer said "loads of jobs" would result from the project, although he couldn't give a number that would be created if the project comes to fruition.

Dwyer said the hotel would be a Hard Rock Cafe hotel, a Hyatt or a Marriott and as high as 20 stories with half the building serving as a hotel and the top housing condos. He said the view of Albany would be an attraction.

A hotel could be the source of a significant amount of room tax receipts for the city, the mayor said.